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17.09.2020

Bank of Japan Decision on the Interest Rate. Japan, 04:30 (GMT+2)

The decision of the Bank of Japan on the interest rate will be published at 04:30 (GMT+2). In general, if the Bank of Japan is showing a "hawkish" attitude towards inflation outlook and raising rates, it is positive (or "bullish") for the JPY. Accordingly, if the regulator's attitude towards the national economy is "dovish", and the rate is maintained at the current level or decreases, this negatively affects the currency. It is expected that the regulator will leave the rate at the level of –0.1%.

GBP/CAD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending. The instrument is trading around lower border of the cloud. One of the previous minimums of Chikou Span line is expected to be a support level (1.6903). The closest resistance level is the upper border of the cloud (1.7146).

AUD/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (0.6624). The closest resistance level is the lower border of the cloud (0.6680).

EUR/AUD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.5993). The closest resistance level is the upper border of the cloud (1.6233).

16.09.2020

EUR/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.7269). The closest resistance level is Kijun-sen line (1.7676).

CAD/CHF: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending. The instrument has broken through Tenkan-sen and Kijun-sen lines. One of the previous minimums of Chikou Span line is expected to be a support level (0.6842). The closest resistance level is the upper border of the cloud (0.6930).

AUD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span has crossed the price chart from below, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (76.11). The closest resistance level is Tenkan-sen line (77.04).

Fed Interest Rate Decision. United States, 20:00 (GMT+2)

At 20:00 (GMT+2), the US Federal Reserve's decision on the interest rate will be announced, followed by a press conference. The interest rate affects the rates of commercial banks and other financial institutions, as well as the exchange rate of the US dollar. If the Fed raises rates, it indicates its hawkish view of inflation and strengthens the USD. The rate cut is regarded as a sign of economic and price risks; therefore, it is accompanied by a weakening of the currency. If the rate remains unchanged, the markets' attention turns to the FOMC statement and its rhetoric on inflation.